South African estate agency Vered Estates and mortgage originator MortgageMarket have introduced Red Property Finance, a technology-driven platform that simplifies the home loan process for buyers. The service combines mortgage applications from multiple banks into a single submission, cutting down on paperwork and enhancing security measures.
The collaboration merges Vered’s extensive residential property experience with MortgageMarket’s mortgage origination technology and direct bank connections. Though Red Property Finance operates under the Vered brand, it is accessible to all South African property buyers, not exclusively Vered clients.
Jonathan Novick, CEO of Vered Estates, described the initiative as a response to evolving buyer expectations. “Finding the right property is only part of the journey,” he stated. “Securing the right finance is equally important, and we believe our clients should have access to the best possible assistance in doing so,” he said. The partnership ensures buyers can obtain competitive rates from major lenders without the inconvenience of separate applications.
For many South Africans, obtaining a home loan is already a burdensome process. Buyers applying to multiple banks often receive conflicting offers, with minor interest rate differences accumulating into tens of thousands of rand over a 20-year bond term. The traditional method—filling out separate forms, resubmitting identical documents, and following up with each bank—consumes significant time and increases the risk of errors. Most buyers lack the necessary time or expertise to manage this efficiently.
MortgageMarket’s ZeroCapture system resolves these issues. Instead of manual data entry, buyers upload documents such as payslips, bank statements, and identification, while an AI agent extracts the relevant information and fills in the application automatically. The process begins in under two minutes, compared to the 40 minutes typically required for manual applications. This acceleration not only speeds up approvals but also reduces the administrative load on originators and bank staff.
Many South African buyers still share sensitive financial documents via unsecured channels like WhatsApp or email, exposing them to fraud or data breaches. Red Property Finance eliminates this risk by storing documents within MortgageMarket’s platform, accessible only to the buyer, the originator, and the relevant banks. Vered does not access any financial data, ensuring compliance with the Protection of Personal Information Act (POPIA) and protecting buyer privacy.
Tim Akinnusi, CEO of MortgageMarket, highlighted the partnership’s emphasis on efficiency and transparency. “Our role is to make the financing process as efficient, transparent and competitive as possible, giving buyers access to multiple lenders without the complexity traditionally associated with applying for a home loan,” he said. The integration of Vered’s brand with MortgageMarket’s technology expands the service’s reach, including buyers who do not work with Vered as their agent.
The platform’s launch aligns with a broader industry shift. Technology is increasingly used to support, not replace, the human element in property transactions. While digital tools handle administrative tasks, buyers still depend on trusted advisors for guidance through complex decisions.
MortgageMarket’s Background and Industry Role
MortgageMarket was established in 2019 as an online platform for comparing mortgage offers from South Africa’s largest banks. The company was co-founded by Tim Akinnusi, who previously held executive roles in home loans at both Nedbank and Absa. Initial funding included R7 million from founders and private investors in its first year, followed by a R10 million investment from venture capital firm IDF Capital in 2021.
The business evolved from a comparison tool into a full mortgage originator, securing direct contracts with all major South African banks, a milestone not achieved by another originator in 25 years. This expansion aligns with its stated goal of using technology to streamline the home loan process. The partnership with Vered Estates reflects its growing influence in reshaping how buyers access financing.
